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the endangered species t, it is not obeying the environment of national policy act. john: i assumed these people mean well, they are not evil. >> they mean well, but their priorities are all about the species and nothing about the individual landowners who are simply trying to earn a living on their land. this is an agency that has forgotten who they serve. they should be serving the people that live on the land as well. people and the animals can coexist and they can cooperate to do this, but when you have the heavy hand of the federal government threatening people of jail time and huge fines, if you don't do this, you will have all sorts of trouble. it creates disincentives because landowners do not want to help endangered species act if that is essentially going to be an economic death sentence for them. john: hence the phrase shoot, shovel, and shut up. >> that is the trifecta that happens on some land. some people do it legally, cutting down trees before they get old enough to be habitat for the woodpeckers. it is not good for the woodpecker, not good for the land, it is not good for the ec
the endangered species act, it is not obeying the environment of national policycy act. john: i assumed theseeople mean well, they are not evil. >> they mean well, but their priorities are all about the species and nothing about the individual landowners who are simply trying to earn a living on their land. this is an agency that has forgotten who they serve. they should be serving the people that live on the land as well. people and the animals can coexist and they can cooperate to do this, but when you have the heavy hand of the federal governme threatening people of jail time and hugeines, if you don't do this, you will have all sorts of trouble. it creates disincentives because landowners do not want to help endangered species act if that is essential going to be an economic death sentence for them. john: hence the phrase shoot, shovel, and shut up. >> that is the trifecta that happens on some land. some people do it legally, cuing down trees before they get old engh to be habitat for the woodpeckers. it is not goodor the woodpecker, not good for the land, it is not good for the eco
environment that will make people want to work here. >> reporter: despite the competition, many of the visitors from japan became interested in coming to brazil. >> translator: the more i learn, the harder it seems to do business here. but i think brazil has huge potential as a market. >> reporter: the competition for labor is starting to spread into more and more rural areas in brazil. but that's unlikely to discourage japanese companies from investing in this rapidly expanding economy. nhk world. >>> let's now get another check of the market figures. >>> crews at the damaged fukushima daiichi nuclear plant in japan have started work on a project to stop highly contaminated water from escaping into the environment. tokyo electric power company workers discovered three of seven underground storage pools are leaking. tepco officials believe pools one and two may be leaking the most. so they're placing priority on draining them. on tuesday, workers started transferring about 20 tons of water per hour from pool two to an above ground tank more than 400 meters away. officials say th
environment in africa is different than other parts of the world. i'm shiewfer that was a factor. some of the aircraft you're referring to are actually -- we don't want them in the inventory. of their sustain ability and capability. so, i mean, i know the analysis was done. i'm sure that it followed the rules of competition by the federal acquisition regulation. i don't know the ci think the am looking for here is before we do contracting as a default position on logistic, as we're, i mean, what i worry about in the sriing budget environment there's going to be more o tenden just sthat we should contract it out. because it's cheaper. and if afghanistan and iraq applaud anything that's not always true. and if you don't have adequate contracting oversight. it's not and especially when it's inherently a governmental function and we can spend a whole hearing tsh we -- we have many on that. i want to make sure it's a new day. as we begin to do new solicitation for new logistic support contract in any threat environment, there has to be a really detailed analysis done as to it is going to sa
despair and poverty as well as the uncertain implications of the environment of degradation. meanwhile the face of technological change and the spread of advanced military technology to state and nonstate actors poses an increasing challenge to the united states military. this is the strategic environment facing the department of defense as it enters a third year of flat declining budgets. the onset of these these resource constraints hazarded lead to significant and ongoing belt-tightening and military modernization force structure personnel and overhead expenditures. you have noted some of those mr. chairman. it has also given us an opportunity, an opportunity to to reshape the military and reform defense institutions to better reflect 21st century realities flexibility agility. the process began in the leadership of secretary gates who canceled or curtailed more than 30 modernization programs and trimmed overhead costs within the military services and across the defense enterprise. the realignment continued undersecretary panetta who worked closely with the president and the joint c
through their dress and environments. like many photographs taken today 17th century portraits were taken from weddings. from 1625 him and his wife are exceptional examples of large scale marriage portraits. other typical occasions for commissioning portraits were births. capture the innocence of a beloved child. one of rembrandt's pupil. we
environment. now, people are a lot more positive about the u.s., so they're overweighting the u.s. the s. is still ary, very strong mark so many overweight that. and we're seeing a lot of regions like europe where investors are pretty much hands-off. so it depends, really, when you ask about how investors behave, where they come from, what region they're located in, and what region they invest in. european investors are, i would say, largely sitting on the sidelines. >> i'm going to come back to you in a moment. but let me ask you first about what's going on in the united states. a big debate about when the federal reserve is going to start winding down the stimulus. is there a downside risk to all of this free money, whether you look at what the fed has been doing with qe or what japan has been doing in terms of the stimulus there, the ecb as well. >> well, yes, it's very clear that central banks have been playing a very dominant role in the economy over the last couple of years. when i was at the imf meetings but still in davos, the talk was the central banks are still the only game in
seas caused by the current fiscal environment. yesterday in boston, the nation began to pay tribute and final respects to those killed in last week's senseless violence. the collective hearts of our coast guard family go out to the people of boston and all the families that have been harmed by this tragedy. but they also go out because the coast guard is a part of that community in boston, and we were able to respond immediately with boats and cruise and armed helicopter, vessel boarding teams and overall enhancement of maritime transportation security posture. our ability to respond like this, not only in boston, but in all our ports, is a direct result of the support that we've received from the congress and the administration over the last 12 years. the results of that support were also demonstrated during hurricane sandy when we rescued 14 crewmembers from the sailing ship h.m.s. bounty in 30-foot seas and 60 knot winds 80 miles offshore. we're also part of the community in new york and new jersey, so we were pleased to be able to get the port running again after the storm and w
an encreasing challenge to america's military. this is the environment that is facing the department of defense as it enters a third year of flat or declining budgets. the onset of these constraints has led to belt tightening in military modernization, force structure, personnel costs and overhead expenditures. it has given us the opportunity to reshape the military and reform defense institutions to better reflect 21st century realities. the process began under the leadership of secretary gates. secretary gates curtailed more than 30 modernization programs and trimmed overhead costs within the military services and across the defense enterprise. the realignment continued secretary panetta who crafted new strategic guidance in an f.y. 2013 defense budget plan which reduced the department's top line by $487 billion over the course of a decade. the president's request of $526.6 billion for fy 2014 continues to implement the president's defense strategic guidance and enhances the department's efforts at institutional reform. most critically, it sustains the quality of the all-volunteer force and t
the chief of production goals from unconventional shell plays, i think the environment going forward has never looked brighter for u.s. infrastructure. >> i think et was yesterday someone said nat gas is the new safe haven, suddenly this is start to go look a little more price afforded. any view on that? >> i think that dmodty prices, a broader view, i think that peak energy, we believe in just the opposite at yorkville. we think energy prices will probably be the growth driver of the global economy. it has a lot of implications. it's very good for the u.s. and our consumers. it's very good for china. >> you say peak energy in terms of we're going to see declines -- >> i think we're going to see stability. the new energy supplies coming online are more expensive to extract from the ground, so you're not going to get back to $20 a barrel oil in our lifetime. but this $80 to $11 is 00, peaking at $120 dropping to $60 is probably a new range in the u.s. i see natural gas, it's at 350 right now, roughly, $4 to $6 range, $16 in japan, mid teen prices in germany. that's giving us a competitive
the policy environment the so conducive to dealing with the key issues between the u.s. and mexico. the immigration bill is hot and heavy, front and center. marco rubio did ginsburg in espagnole. he had five sunday shows, to talk about immigration. the gang of eight is hard at work on that. guns, u.s.-mexico relations. outink the guns may come not quite as favorable to mexico's longstanding positions as the immigration debate might. i would take a 14 two. we will be in good shape. the third is trade. mexico, the united states, now japan, canada, are linked in the trans-pacific partnership talks. talks with many of our key trading allies across the pacific. many of us view it as a chance to help bring nafta into the 21st century. the three are very much on the u.s. agenda. it shows great forward progress. welcome all of you to what promises to be a truly fascinating session. be second reason this will terrific is because of our panelists. i will say little bit more about the ambassador of mexico. doris meissner, who i served with in the clinton administration. she is one of our grea
different country, we are living in a very different environment where it is no longer patriotism and love and family, it is not terrorists and hate. we have toounderstand that. we have to say we are in fact committed to our liberties and freedom, but you know, the people also deserve to be safe in their neighborhoods and homes. melissa: you think we have to figure out what to do from here, how to live differently, what should have been the indifferently for something like this not happen? >> we have many students in boston. they get here on a student visa from countries all across the world and we are happy about that but once they get here they don't return. many of them don't return and they stay here for 6 years, they marry and become permanent citizens and we don't know if these two young men from chechnya, i know what that places like. i have seen violence in belfast and all these places where i have been, as a diplomat and an ambassador. the other thing is i always -- at the marathon and walking up the street and saw hundreds and hundreds of young people walking around with backpack
of exchanges going on right now. forward to a post 2013 environment, to you believe these multibillion-dollar payments will continue regardless of their being an american presence or nato troop presence in afghanistan? maintaineve we need to a constructive and effective relationship with pakistan. we need to recognize the real threat that pakistan has inside of its own borders. from my perspective we have to do whatever it takes to ensure that our national vital interests is protected. >> one of the things i am always looking into that aid is whether or not it does serve the military. you are saying we need to do whatever it takes to continue that relationship. are you saying that payments of that size and nature are going to be what is required in the long run? >> i believe it is in our best interest to continue to develop the pakistani army in ensuring that they can effectively deal issues in their borders. i cannot tell you that every program we have in place is one we ought to assisting in the future. that is not something i paying particular attention to in my current duties. i am
to make our environment as safe as we possibly can. liz: you know what, he put his money where his mouth was. they had the sniffing dogs. sure enough, they found something. we don't know what it is yet. officials say boarding of the royal caribbean ship will begin to take place any moment. shares of royal caribbean down just and a half% today. shifting gears, successful companies are often ones which adapt to changing environment. a really good example. we wanted to show this to you because they are making a big bet on memory storage devices. right now the stock is down. this despite the fact that the reported results after the bell yesterday, beating analysts' expectations. let's stretch it out. you can see a 1-year picture is quite pretty with the stock of more than 30 percent of the past year. in a fox business exclusive, an excellent quarter. the stock is down. i was strolling to figure out why. in essence there were great but not great enough. let's put that aside. i would like to hear from you. what was the real success? >> a great quarter. in fact, it was the best ever first quart
-- scare people, but what you should do in this environment is don't get distracted from there, don't go for fear. >> ross, if what you're saying suggests, perhaps, gold still is a safe haven, why do you think so? >> let me qualify that. it's an imperfect safe haven. it's an imperfect safe haven, particularly in the short run. >> against what? >> against financial meltdown or inflation or politicians not doing what they should do, in that case. so it's an insurance plan, if you like. >> is the reason we have this down move is because people are now -- is the gold pricing in the fact we're not going to get more qe out of -- >> it may be. and it's part of the story dwr the shorts have hit gold is not because of what has happened, but because of what hasn't happened. we haven't had hyper inflation. we didn't have the euro collapse. certain things didn't happen. i think that would have aggravated the gold market. fundamentally, it still remains in the short-term a long haven and imperfect. >> if nvs the kind of move, you know, that indicated that if gold were going to respond to more quantit
back to what is a normalized environment. what does that even mean? i can't value it. i don't know how to value. >> i think it's interesting, the mainstream press. the front page of the washington post is the spring swoon and how we cannot seem to escape this economic decline and we've seen the past couple of springs and the front page of the journal is walmart and kohl's taking more time to pay their supplier, a trend they say is getting worse. those are not marginal positives, jim. i look at bank of america. i look at j.p. morgan and i say i'll pay 83.5 for 50,000 j & j. the trade is i don't want to mess with the stuff. proctor, look, he's making the quarter. he's going to make the quarter. >> raw costs coming down and coca-cola, by the way. raw costs are coming down, but they will come down. another one that is just where people are hiding. david, it's hide and don't seek. >> it is, but to carl's point, we've come out of the last few years and animal spirits start to feel strong. >> right. underlying economic growth is strong and everyone is revising up their gdp numbers up to three
our green is universal with green beer. we mean beer production that goes easy on the environment. it's an interesting story and iex breaking right here squawk this morning. miller coor's is reporting that its famous golden colorado brewery, the largest single site brewery on the planet is now weeks away from becoming a zero waste site. what does that moon exactly? more than 99% of brewery waste, glass, plastic, even spent grain gets reused or recycled. interesting story behind this initiative, the idea came from a long time employee, a shop floor technician there with the initial plan to get the company's major breweries to zero waste. for much more on earth week and this story and others, check out green.cnbc.com. kind of an interesting feel good -- and it has to do with beer and drinking. >> i didn't know this. jane wells and tom rotuna on the on assignment desk are doing this whole thing called brew and chew. >> i read about this, too. it's going the be online. >> on cnbc.com. it's all about beer news, food news. jane wells, i saw her in california two weeks ago. she said she prom
store and there are issues i have about consumer protection in that environment. while i appreciate, it is a concept that could work, we need strategies that are going to take into consideration varying factors and that the goal here, and in addition to being able to be in the black, is that, you have a public service and we have to serve these con at this time cents. i would really encourage you with your leadership on the board of governors to really think about ways that are going to be unique, more than just flexibility to get there. that you're looking at quality, connectivity, those relationships, the rural fabric in these states, related to the post office. when i was in inaing the postal service was a very effective partner in receiving those constituents, thank you. i yield back. >> thank you. and recognize the gentleman from mr. georgia. >> thank you, mr. chairman. just in listening and writing down notes, we went all over the map from the importance of postal service. i don't think anybody will detract from that. we talked before. you been in committees before. i serve an
and the potential for further government spending cuts and the regulatory environment. >>> and listen up, everybody.it looks like fed chairman ben bernanke, he's going to to the annual jackson hole symposium this week. it may not sound like a big deal, but this is the first time he's marked that event since 2006. reuters quote the spokes woman who says bernanke is not planning on attending because of a personal scheduling conarthritic. they've used this forum to try ask preview important fed actions. just about every big move they've made along the way he has made public at jackson hole. people have been wondering if he was going to talk about a potential successor this time around. >> can i give you a conspiracy theory? if this is -- this is like your place. if you run the fed, you go to this thing, right? and if this was going to be the last time you could go as the fed chairman, if you thought that he was going to be stepping down next fall or next spring, rather, you probably would find a way to show up. >> actually, i look ate more as him having not made up his mind yet. if you haven't decide
advertisers into an environment with twitter to really understand the social tv space. melissa: what does that mean in english for people that do not understand advertising? >> went to third audience are sitting next to their smart phone and tablet and watching tv. there are conversations happening. their customers include coca-cola, procter and gamble, all of the big names that are out there. they will be able to go on twitter and mine what consumers are talking about. what shows they are watching. it seems like you can collect data. it is endless. >> absolutely. how do we mind these opportunities whether it is direct to understand the conversation. we can make sure that our brands are more fully embedded and engaging. melissa: i am an avid twitter user. it is easy, clean, straightforward. there is not a lot of clutter. what is an add on twitter going to look like and will it ruin the experience? >> i think it will look very different tomorrow than it does today. you want to create advertising that is even more relevant. you wanted to be more engaging. melissa: it is not the difference b
that the environment worldwide is just too hard to deliver the dough. jimmy in california. jimmy! >> boo-yah, cramer, how are you? >> real good, partner. how are you? >> caller: real good, thanks. in light of the tragedies in texas, with the pullback in fertilizer stocks and the biggest corn crop since '36, what do you think about rnf with a 9% dividend or are you still sticking with seeya? >> we bought thought that was a really good idea. it's funny it hit your radar screen and my radar screen. i think that rentech is a good, good idea. it's just funny, because i was thinking about doing that on the show next week. let's go to chris in california, chris? >> caller: hey, jim, i love your show. i have a question regarding ebay. the earnings were yesterday. is this a overreaction and where do we go from here? >> i thought it was an overreaction, but there'll probably be a second day of overreaction, because people were so stunned that they actually talked about a bit of a slowdown in europe. i think the important takeaway is they reiterated and reaffirmed their growth, which is amazing. i want to buy
a temporary file restriction over a section of the boston area to provide a safer environment for law enforcement activities. logan airport remains open under heightened security. most flights departing and arriving on schedule. greyhound bus service has been suspended. dagen: thank you so much. it is not just boston. this will be felt in the northeast. thank you so much. connell: a briefing any moment from local authorities. you will see it live. you will keep you up-to-date as we have been on what is happening in the markets throughout the day. mike baker joins us on the telephone right now. former cia covert operations officer and president these days of his own intelligence firm that he is a part of. one suspected terrorists has been killed. another is still at large just outside of the big american city. what stands out to you? >> well, i mean, so much for disgruntled tax filers irresponsible for your will attack. you know, this opens a single to all sorts of investigations. right now obviously there is a major effort not just ride on the ground in the immediate boston regional a
money printing. in those environments, gold does very well. you have the goldman sachs downgrade. you have people picking sides. then you have the slowing chinese debt. i think that really hits the market all at once. that led to margins being that and they continue to tumble downwards. dagen: talk about the difference you are seeing in behavior. are you seeing any selling among those physical gold owners? >> not as dramatic of a difference. we are a precious metals platform. on friday and monday, we had four to five times as many body and sell orders. we have done our own research. i think that plays into my point. it is somewhat reminiscent to what happened to apple. in the paper market, you have a dramatic selloff. in the physical market, the demand is very, very strong. connell: let's follow up on that. let's talk about apple. the big game for the dollar versus the euro. is that part of the case you make for gold? >> i think part of the reason is for safety. in times like this, i think now is a fantastic entry point. it is certainly better than two weeks ago. it is uncorrelated. t
. the whole idea of the urban environment derailed, but the plans put forward for the park and for the national park. the same state and federal officials of the philadelphians are dealing with for the u.n. proposal were the ones who also were going to sign off on the part. this interesting connections there certainly. >> charlene, just being aware of time is here, but to continue the dialogue. i'd like to thank her again for her presentation. [applause] >> where the conservative book local action conference in washington d.c. with author paul kengor of "the communist." who was frank marshall davis? >> frank marshall davis was born in kansas 1905, died and made you and 87. ended up in chicago and ultimately honolulu and that's where he would meet a young man named barack obama in the 70s. he was introduced by obama's grandfather, stanley dunham. i should back up a little bit. he was african-american. he was a republican from the time of lincoln to fdr. remarkably what so far to the left that during world war ii he joined the communist party. he joined communist party u.s.a.
environment for the exercise of civil liberties. this includes the measures with respect to registration of ngos as foreign agents but also restrictions on press and internet freedom act. so we've made clear our commitment to dialogue on human rights with the russian government, but we also remain actually committed to open dialogue with civil society and supporting their efforts. >> can i do a follow-up on that? i just wanted, i mean, the u.s. government has talked a lot about, concern about human rights abuses in chechnya. and i just wonder if you think the events in boston are going to change in any way the way the government will see human rights in chechnya? >> with respect to the ongoing investigationnbston, i just etars, that would be highly inappropriate to make further comment at this time. with respect to the situation in the northern caucasus, i can tell you this has been part of our human rights reporting. on russia and our country reports since 1995 you'll find quite a bit of information in this year's report. and they know serious human rights abuses taking place, and acts
slices so everybody can eat. you need to get more pizza. in order to do that you need an environment good for business. and i think they have all lost sight of that. it's not about taxes, redistribution. >> are you looking for a quick fix? >> there's no quick fix to this. there's a very difficult fix to this and things if both sides will have to do that are uncomfortable in the short run. lying about it isn't going to make it better. by saying social security, medicare, medicaid aren't in trouble, is not going to make it better. >> working so well. >> despicable. >> bob, thank you for coming in today. >> thank you. >> j.j., rick, see you soon. thank you. >> always a pleasure. >> our guest host will be with us the rest of the show. >> very excited this morning. >> tell us what you really think. coming up, more on goldman sack's earnings report. beating the streets expectations by 40%. up next, reaction from financial sector analysts. the one and only dick bove. ♪ ♪ the new blackberry z10 with time shift and blackberry balance. built to keep you moving. see it in action at blackberry.co
the internet, either at home or at the office or in the retail environment. so we're orienting everything we're doing at ebay, ebay, inc., to help consumers have a seamless shopping experience. >> john, last question i have, if there's one danger that i see particularly for paypal, it is scrappy competitors coming up, what you talked about last time you and i talked, braintree, et cetera, that have gotten some of the hot mobile retail start-ups under their wing. what's the major ting that ebay has to do to get the next fab, the next uber, for instance, under the paypal wing? >> well, there's going to be a lot of innovation in mobile payments and in this whole space because there's so much change. weened that. we actually respect and like that. we made several acquisitions. but we're innovating aggressively as well. we just launched our new mobile software library at south by southwest and actually companies like uber, companies like fab are using paypal and integrating paypal because paypal brings 120 million active consumers. paypal brings a network of capability that is strong. and so ther
of that traffic. .t causes obviously delays it has an adverse impact on the environment as well. is to expand the american plaza, but also pursue span.bridges fan -- new yorket in buffalo, we southern ontario are -- need capacity. w want emphasize that we are trying to remove barriers to access, both physical and in tolls. when you look at the situation with the peace bridge, a lot of tolls are being used to support expansion of the plaza to promote traffic between the united states and canada. this is something that would be of concern. my sense is that it would be a new agency imposed toll compared to the ones that are already in place. help iniate all of your helping us address the issues and the peace bridge connecting buffalo and southern ontario in particular. i yield that. >> thank you. i turned to the gentleman from utah. thank youecretary, for your services. this is probably a long hearing. you do not know the line of questioning, so it requires you to be an expert on everything. things i would like to ask you quickly if i could. >> sure. >> as a former air force pilot, uncomfortabl
's another power we can use the environment. that is the power of persuasion. here we are lucky as both of us ex-prime ministers, he and i have met a whole bunch0s ceos and they should remember their patriotism and hire more, or pay more to their employees. it is -- for the first time in many years an increasing number of companies are willing to pay more. however, getting rid of denation -- deflation mindset alone cannot hamper long-lasting recovery. we most leave people with expectation to sustainable economic growth. and for the purpose we must have two downside risk. one, inflation without growth. two, interest rate hike without growth. let me understand one by one. let's assume that you now have rising cpi, but you have no pay rise. the economy is that is a bad inflation. people should suffer then. it is right here that the third bazooka should come into play. the third bazooka, if you recall, is a package of growth enhancement policies. i know it's hard to come by. i am not saying we can do very easily. still, it takes us only to look into miller -- into mirror to see who you are and th
. how do you see the regulatory environment playing out? and how are you going to improve margins in this scenario? >> actually, my margins improved by 140 basis points over the quarter. so we had a record margin for the first quarter. so over a 40% margin. i was asked specifically, can our margins even improve more, and i said, well, we have a lot of pressures on regulatory issues. we're reinvesting in our company by hiring more people. so i was just being cautionary. but to answer your question, our margins have had improved year after year. they're going to improve from 2012 into 2013. i believe our business model will allow margins to improve, despite, despite, we're spending at more money on lawyers, spending a lot more time working with our regulators. and i think this is just the cost of doing business moving forward. >> we'll leave it there. larry, always wonderful to have you on the program. thanks so much for your time. >> thanks, maria. >> larry fink, black rock. we have a market up 112 points. we are still waiting on answers coming out of boston in terms of suspects. w
and take steps to address the environment degradation. the issues are polarizing. [laughter] but president grimson serve as iceland's finance minister. in 2008 he presided over iceland's near economic collapse. the country's unique response which included social and political reform and allowing the banks to pull pulled iceland back from the brink without the austerity measures. perhaps most challenging of all he raised twin girls. please hiv me give a warm national press club welcome back to president grimsson. [applause] [applause] >> thank you. thank you very much. for these words of welcome and thank you for hosting us at the national press club here today for a special occasion where i have privilege to announce the establishment of a new venue aimed at enhangs the dialogue on corporate issues. i know, sometimes here in washington, the arctic looks as if it is far away. perhapses in the minds of many, still the hidden part of the world as it was. in the beginning of the 20th century. where the knowledge of that the neighbor to our countries was still very limited. and in fact remains
and also some worries about the global growth environment. we think we may have a little bit of a pause here, but we're going to see continued growth through the year. it will be rewarded by take risk in the stock market. >> why? >> because with growth keeping up and inflation being under control, monetary policy is going to stay very easy, and we see that as being something that's going to lead to equity returns being positive. >> you have to admit, we've had a very good first quarter, 10% gains for most of the averages, 15% at the most extreme. aren't we due for a correction of some kind? >> well, we could absolutely have a pause here and a small correction wouldn't be off the realm, but without a big downturn in data or a big change in monetary policy expectations, i think it will be relative tame. >> what have you thought of the earnings so far this season? >> they've been modestly disappointing. we got some news today about corporate business jet appetite that was a little bit disappointing. but then look at the fed beige book report today, where they saw their seeing slightly impr
in this environment. how do you feel about that? it's a double-edged sword, right? >> yeah, michelle, it is. so we actually make more money when rates are higher, so we'd like to see rates higher, particularly, a positive-sloping yield curve. you know, the fed has a strong view in consensus that rates need to stay low. i'm not generally in that camp. i think the early stages of qe were probably good. i think it's very debatable now whether it's doing any good or not. i personally think the economy trying to find its own natural structural, level of stabilization, and it's going to do that at its own pace, with or without qe. a lot of people disagree with that. but i think it's about confidence, not about how much qe we have. >> mr. king, appreciate your time, sir. thanks for joining us today. >> thank you very much. have a good day. >> great to have you on. >>> all right, stunning and frightening. just two terms to describe video that captures the situation that we saw in texas. >> yeah, we're going to go live to the blast scene for the latest developments on this horrible tragedy when we come bac
that come from conflict situations come into peaceful environments, and all of a sudden, and they're not given appropriate psychological pair, can also have enormous problems assimilating in a very different culture. >> and in terms of these two individuals living in cambridge, massachusetts, having come from chechnya, any thoughts there, why cambridge? why they've been living here together for so many years? why they chose boston? >> well, i think on the east coast that there is a burgeoning, it's by no means as large as europe, of course, the largest population of chechen is in austria, but i think there is a growing group of people along the east coast, in d.c., and in new york, and in boston, and clearly, chechens are also russian speaking, so there is, obviously, a large contingent of russian-speaking people also in boston. and from how i understand it, it seems as though their uncle was already here in the united states, and i think that they had other friends who could help them to settle into the country, and to assimilate, so, often, you choose a place precisely because y
with our reduced output so the faith is still there, that it's well run in a bad macro economic environment which comes back to mcdonald's which you have a note out today from sus can dehanna which says it is executing across the world and it is stable in its market share or gaining and it is against it. that seems to be the major theme. >> another theme that's sort of emerged in these big companies, citigroup, as well is the strength of the latin american consumer and the latin american corporation. caterpillar noting that lshg, even though china continues to be weak and there seems to be a shift from asia pacific to latin america coming from these multinationals. >> resuming the buyback does not hurt by the end of the year. it had approved for a while in '07. >> and that might be taking some of the sting out of this today. >> when we come back, yet another price target cut for apple ahead of its earnings and this time from bmo. colin gilles over at bgc is upgrading the stock this morning. which one is right? we'll hear from both analysts this morning. the dow coming off its worst week sin
as the competitive environment, do any of these other competitive services end up adding up to anything? i think so far the answer is clearly no. we're not seeing much from amazon prime or hulu or some of the other services to really grab share from netflix. >> yeah? all right. we will leave it there. thanks, everybody. appreciate your time tonight. see you soon. >> thank you. >> thanks. >> thank you so much. >>> shares of johnson & johnson meanwhile hitting an all-time high today. ceo alex gorsky is up next in an interview you'll only see here. the company's first quarter sales were $17.5 billion. we'll find out what he's got planned for the second quarter right after this break. stay with us. >>> >>> welcome back. johnson & johnson shares at an all-time high. 84.83 tl$84.83 a share. the company enjoyed a major boost after the potential type 2 diabetes drug was granted fda approval. let's check in on j & j. has the brand fully recovered from product recalls? ceo alex gorsky. >> great to see you almost a year later. >> a year later. when you first started, we talked a bit. let me go back to when we
're going to slow down the purchases but you're still easy. and that environment has a long tail to it, which should produce cash flow in the u.s. economy, 5% or better. >> so why isn't the public playing this market? why are they not in this market? >> the most recent memory in all of their heads, every single macro event risk they've all seen, whether it's the situation in europe or closer to home, the financial crisis, and that's going to last for quite a long period of time, especially since the household itself, the liability shelf, is still there and it's still in repair. >> and if anything that prolongs that rally, right? >> no question about it. that's the misguided notion out there, which is, you want to not all rush in there at once, but the reality is, no, that's where you get multiples go up to 18, 19 times and get the boom bust. the first move is cash to equities, not fixed income to equities. that second move is fixed income flows to equities, when the economy really gets above 3%. >> what are you going to buy here? >> well, we like almost everything in equities. our favo
. the reason that's important because it speaks to competitive environment that is out there. it also will cause questions on the call regarding newer, lower cost devices for emerging markets. is that being baked in or, what's causing particularly 36, 37 in the june quarter. david: when you look at the beat on the unit sales, john, we were expecting 17 to 18 million ipads. they sold 19.5 million ipads. 35 million iphones. they sold 37. isn't that, more significant than perhaps the lower end on the gross margins? >> well i said the gross margins will be the question on the call. david: yeah. >> certainly i think it will be a relief on the unit side both for iphone units and ipad units. you layer that together with the, share owner friendly buyback, dividend, i think stock, all else equal will be performing well tomorrow. liz: the margin issue i think you're absolutely right but what do you think the market will focus on? do you think it really will be that or the fact that not only did they sell so many more ipads and iphones but to see that kind of number move, not to mention you pile
a weaker or softish commodity environment will drive that even further and higher. >> when i see you, the one commodity which is oil, give me your take here and correct me if i'm wrong, but you've always been a big bull. >> yeah. reality is oil. we just don't have a lot of new sources for it and you really have to take the world and slam it to almost zero growth before that would really undermine the supply/demand picture for oil. oil production grows about a million, a million and a half barrels a year and demand grows about that amount and the cost structure to bring that on is now $80 to $90 a barrel and i can't say this doomsday scenario that people say the oil markets will be prone to, and if it fits in the broader picture that the global economy is doing fine, you will see oil bottoming here in the next $5, $6 a barrel and probably making close to a new high by the end of the year. so everybody understands why that's a positive, but there are some who want to read both the decline in crude and gold as, all right, we're not going to have inflation and we're also not going to hav
's something that would have to be part of an agreement and acceptable to republicans in this environment, it is something we can defend on a technical basis. it's more accurate and because for middle class people, you know, it's a burden that is relatively small. the most vulnerable even $10 a month for the most vulnerable is a big deal. if you live to be 90 years old and all you have is the social security, that $10 can be the difference between food in the last couple of days of the month. so i think we have to distinguish between what impact going a more correct measure would have. and we have, you know, put in a way that we think is fair. by saying that the most vulnerable have the benefit go up. not because we have the overall adjustment being faster. we will make the decision to go in and make sure they're not hurt. >> thank you. >> thank you, mr. chairman. thank you for appearing. i have four sets of questions i'm going run through quickly. supplementally. first thing has to do with the crap i look at the budget. how it's crurkted. because the choice of the underpinnings of the a
environment and have been a part since iceland was -- [inaudible] >> taking step back and looking for a broadly two things i've been talking about climate change and fishing. has global environmental change been benefit to iceland's fishery or a detriment? >> well, it's very difficult to an that question, indeed it's one of the big issues -- a number of decades because it has tradition nayly been the key part of the export driven fishing circle. of course the species as well. some people are arguing cue to the -- [inaudible] so one of the reasons why there is a need for more active arctic corporation is in fact to study what is happen together fishery in the ocean of the world including the arctic and the ice melt. and i found it interesting when i invited them to iceland a few years ago, he is, as you might know, a special envoy of the president of france on arctic and polar issues. his argument was that the first dispute that would unearth nationings to a new situation in the arctic would be dispute over fisheries. that the meting of the arctic sea ice and the transmore fashion
environment even more. i think you have a great, virtuous cycle that's kicking in. >> that cuts to the fundamental question about netflix whether it's growing fast enough to pay for the international expansion and to pay for the content bills that it's rack up. >> if you look in detail at these figures who which you have to still, the loss overseas is $77 million and the negative free cash flow is 42 million, tony. >> there are a couple of things that have gone on in this quarter. one, we do see these improvements in the use of accounts payable which in the cash flow and the u.s. streaming business scale better which should provide more cash flow and the dvd business is not declining as fast and these guys are managing the business pretty well. if i can on the international, it's down, but not down as much assy we expected and the way to think about that is maybe these international markets are getting to profitability sooner than expected and it may not be as big of a drag as people thought going in. they're focusing on traditional valuation in the near-term. i think what the s
in the first quarter. there is not much opportunity in a low yield environment. we're looking low single-digit type returns. maybe mid single at best. i think emd is is one of those opportunities. central banks paused in the first quarter in most markets in emerging market countries. i think the bump in yield we saw in the first quarter is an opportunity. we still think longer term those economies grow faster than developed countries. much less debt relative to the size of the economy. lori: i have to sop you there. we have breaking news. >> that opens up potential easing in the coming months. lori: it is an important part of every once investment portfolio. anthony, thanks. we'll check in with you. >> thank you. melissa: we have more breaking news about those reports that investigators believe they have identified a boston bomb suspect. rich edson is live at the white house with more on this rich, what have you heard? >> here are the details. fox news confirming authorities investigating the boston marathon bodies have an image of a young man carrying and perhaps dropping a bag at the s
easy. it is challenging in this fiscal environment. administrations 39 budget -- $39 million budget request. consistent with what congress appropriated in 2013 for the department before sequestration cuts were applied. the level of funding in this budget is lower than what congress appropriated in 2009. stepping back and thinking of the challenges that our country and this department has faced since 2009, times square bombing, hurricane sandy, the ever-changing and growing cyber threat, and of the boston attack, it is easy to become concerned with this budget request. we are facing extremely difficult budgetary times. sacrifices must be made. they may not receive all of the funding. and agencies in government must share in the sacrifice to some extent required during this deficit. our secretary seems to have taken this message to heart. he is identified $1.3 billion in savings this year and more than $4 billion since 2009. he continues to move from a risk-based approach and it effort to save more money. i'm happy to see this budget proposes a much-needed increase for cybersecurity,
to better growth in the second half of the year. >> demand environment played out as we expected and i think the company executed well. as i just heard john say, we saw nice growth in our data center business. it was up 7% year on year. and within the overall market for computing, we're seeing nice growth and there's obviously a transition going on there. i think we're well positioned for that as well. >> intel shares closed up less than 1% and moving around after hours. also up a little less than 1% in frankfurt this morning which is no small feat considering germany's market is down by better than 1% as we speak. yahoo! first quarter rose and beat forecasts but revenue was flat and shy of estimates as the company feels the impact of declining web traffic and display ad sales fell for the second straight quarter down 11%. yahoo! is also projecting second quarter revenues that fell short of analysts expectations. ceo marissa mayer says her plans to reverse the trend is still on track and will show results in the second half of the year. she cautions it will be years before yahoo! grows at th
of the slow to modest growth environment. interest rates we think will stay pretty low. that overall is a reasonably attractive back drop for companies to deliver okay earnings growth. and so we can take earnings disappointments as long as it's minor. but as you say, it is a gdp and an earnings cliff, then we return to late '07/'08 type markets. we don't think it's going to happen, though. >> jonathan, it's ross here. what would you describe as okay earnings growth? >> well, i mean, okay in the context of the last six to nine months has been earnings estimates coming down week after week after week after week. the aggregate impact of that, though, is that european earnings growth expectations for 2012, remember those numbers are not finalized until we see the full years coming in the first part of this year. analyst expectations started last year around plus 10% and then our minus 3%. that's quite a big shift down when you put that into context of what we saw in 2008 where the earnings estimates went from plus 20 to minus 50%. so we've really seen in the context of previously earning
this is not an environment in which to address this. there are serious allegations of what they knew and did not know, and we'll have the benefit of hindsight. we are all monday morning quarterbacks on this, but because of his and issue intricately woven into legislation, we ought to let the dust settle, the emotions calm down before we address it. ashley: when you look at the root they took, everything was done legally. they went through the process, the younger brother became a citizen on 9/11 last year, the older brother held a green card, they filled out all the forms. what did the fbi now reportedly, allegedly i should say, knew they were tipped off the older brother, there was concerned about him. from an immigration point of view, some say they got through the cracks. tracy: fbi does not monitor immigrants. the fbi would only get involved with immigrant if there is credible allegation of criminal activity. it did not rise to the level of prosecution of credibility. they can only go forward with and do something with evidence when there is enough evidence to move forward with it did not exist at the ti
work environment, that their paychecks will arrive on time and the benefits they earn are the ones they receive. under president clinton, john served as deputy assistant secretary and acting assistant secretary for law enforcement at the treasury department. overseeing the united states secret service and the bureau of alcohol, tobacco and firearms. and he later moved to the interior department where he was assistant secretary for policy, management and budget, essentially the manager of the department of interior. before coming to the office of personnel management, john spent nearly a decade working on conservation as director of the fish and wildlife foundation, and then arguably the job he perhaps has enjoyed most, he became director of the national zoo. at the national zoo, he was so successful turning around a faltering institution that after he left they named a lion in his honor. john indeed was a lion, a lion on behalf of the federal employees, a lion on behalf of good government, a lion on behalf of integrity. john know he is a true leader and manager and an incredibly wa
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